Connect with us

Bitcoin

Bitcoin Price Crash: Drops 8% in 20 Minutes

Published

on

Bitcoin Price Crash

At 00:55 UTC, just after Wednesday’s close, the cryptocurrency shed $400 over the course of 20 minutes, a move that found it crossing $6,400, for a time the market’s most reliable lower-bound support, for the first time since September 12.

Bitcoin Price

At press time, bitcoin has lost momentum, having stalled briefly at around $6,125, the lowest figure since September 19, before crossing back above $6,200.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

Why Is Bitcoin Surging?

Published

on

Secure Token

Bitcoin has more than doubled this year. That simple fact has enthusiasts cheering on its resurgence, even if no one can quite pinpoint why it’s rallying.

Indexica, an alternative data provider, built a custom index based on natural language processing of thousands of textual documents to try and explain Bitcoin’s 28% run-up throughout the month of April. What they found pointed to a coming of age for the cryptocurrency.

Their findings showed three main drivers: a more complex conversation surrounding Bitcoin, fewer concerns about fraud and a shift in the tense of how Bitcoin is talked about from the past to the future.

The higher quality discourse suggests that more academics and financial professionals are discussing the cryptocurrency and that institutions may be taking it more seriously as an asset class. Fidelity Investments will buy and sell the world’s most popular digital asset for institutional customers soon, according to a person familiar with the matter.

Indexica’s study also showed that the tense of the conversation changed last month. Futurity, a measure showing that discussions tend to talk about what’s going to happen as opposed what has already transpired, showed up as a major driver for the coin’s price last month for the first time on record.

Zak Selbert, chief executive officer at Indexica, says the futurity of Bitcoin is systematic and a characteristic often seen among stocks. Futurity also tends to indicate positive price moves in the future.

“Think about it, executives will speak of good things they expect to happen on conference calls before they happen,” said Selbert. “They only mention mistakes afterwards.”

Continue Reading

Altcoins

Price Analysis: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Binance, Stellar, TRON

Published

on

Cryptocurrency Exchanges

Though cryptocurrencies are not strongly correlated to any asset class, the sharp fall in U.S. stock prices due to the escalation of trade war between the U.S. and China is providing an added impetus to crypto prices. While many traders milk the volatility of the crypto markets, about 12% of the crypto traders stay invested for the long term, according to a survey by HBUS.

While the stage is being prepared for institutional investors, mass adoption of cryptocurrencies is another important factor for long term growth of the asset class. Two companies, Starbucks and Facebook, have been in the news for the past few months on rumors of their involvement with cryptocurrencies.

While Starbucks is expected to start accepting Bitcoins at its retail stores, Facebook is likely to launch its own cryptocurrency named FB Coin, which is a stablecoin. Though the actual details are sketchy, these companies have massive reach among retail customers and their arrival will boost crypto adoption among the masses.

These fundamental developments are pointing towards the growth of the asset class. However, the question remains on which cryptocurrency will be the major beneficiary. Michael Novogratz, CEO of Galaxy Digital,  believes that Bitcoin will only be treated as a store of value and other networks will grab attention with their use cases.

BTC/USD

Bitcoin (BTC) is skyrocketing.  The pace of the rally has surprised us. It has scaled above the overhead resistances with ease. This shows that the bulls have continued to buy on every rise without waiting for a dip. While this is a positive sign, the pace of rise is unlikely to sustain for long. Traders can trail the stops on the remaining long positions at $7,100.

The next level to watch on the upside is $8,496.53 and above it, the move can extend to $10,000. It is difficult to predict where the rally will stall. Therefore, traders can keep trailing the stop loss to protect their paper profits. The next pullback is likely to be sharp and deep.

Both the moving averages are trending up, which shows that the bulls are firmly in the driver’s seat, but the RSI has risen deep into overbought territory. This suggests that the traders are chasing the price higher and the pair is vulnerable to a pullback. On the downside, the BTC/USD pair might find support at $6480.54 and below it at the 20-day EMA. This will indicate strength and signal the end of the bear phase.

On the other hand, if the bears sink the digital currency back below $5,900, it will dampen sentiment.

ETH/USD

Ethereum (ETH) soared on May 11 to above $200, but the bulls could not sustain the rally. After that, the attempt by the bears to plummet the price back into the triangle failed. Currently, the bulls are again trying to sustain above the $200.

Both the moving averages are sloping up and the RSI is near the overbought zone. This shows that the bulls are in command, but we are yet to see a sustained up-move. The targets on the upside are $225 and above it $256.

However, if the ETH/USD pair picks up momentum, it can surprise to the upside and rally to $300. Our bullish view will be invalidated if the bears sink the pair back into the triangle. For now, the stop loss on the existing long positions can be kept at $160.

XRP/USD

Though Ripple (XRP) is still in the range, it is pointing to a breakout. If the bulls succeed in pushing the price above $0.33108, it can rally to $0.37835. The digital currency is likely to pick up momentum above this level. We will wait for the price to sustain above $0.33108 before proposing a trade in it.

The levels to watch on the upside are $0.45 and above it $0.60, with a minor resistance at $0.5650. Contrary to our expectation, if the XRP/USD pair fails to break out and sustain above $0.33108, it will remain range bound between $0.27795 and $0.33108. The trend will turn negative on a breakdown below $0.27795.

BCH/USD

Bitcoin Cash (BCH) soared above the range on May 11, which is a positive sign. We like the way the bulls held the price above the previous resistance-turned-support of $335.62. The 20-day EMA has turned up and the RSI has reached the overbought zone. This shows that the bulls are in command.

The BCH/USD pair can now rally to $424 and above it to $500. Our bullish assumption will be negated if the pair breaks down of the support at $335.62 and re-enters the range. The trend will weaken if the bears sink the price below the 20-day EMA. In such a case, the price will remain range bound between $255 and $335.62.

LTC/USD

Litecoin (LTC) surged above $91 on May 11 and 12 but it could not close above the resistance level. The pullback from this level was shallow as the digital currency found support at $83.653. The bulls are again trying to scale above the overhead resistance at $91.

A breakout and close will complete the bullish cup and handle pattern. This has a target objective of $158.91. Traders can buy the LTC/USD pair on a breakout and close (UTC time frame) above $91. The stop loss can be kept at $70, which can be raised later. Please keep the position size about 50% of usual as the risk of a pullback is high.

Contrary to our assumption, if the pair turns down from $91 and plummets below the 20-day EMA, it can drop to $70. The pair will turn negative on a breakdown of $66.470.

EOS/USD

EOS turned around from just above $4.4930. The bulls quickly propelled the price above the uptrend line and the 20-day EMA. There is a minor resistance at $5.50, above which a move to $6.0726 is probable.

On the contrary, if the EOS/USD pair fails to sustain above the overhead resistance at $5.50, it can remain range bound between $4.4930 and $5.50 for a few days. It will turn negative on a breakdown and close below $4.4930. We do not find a buy setup that gives us a good risk to reward ratio at current levels, hence, we do not recommend a trade in it.

BNB/USD

Binance Coin (BNB) reversed direction from just below $18 and rallied above both moving averages and the uptrend line of the wedge. This is a bullish sign as it invalidates the breakdown of the wedge.

The bulls are attempting to push the price towards lifetime highs. A breakout and close above the lifetime highs will be a bullish sign. We might suggest a long position if the price sustains such highs.

Conversely, if the bulls fail to break out of the new highs, the BNB/USD pair might remain range bound for a few days. The trend will turn bearish on a breakdown of $17.50.

XLM/USD

Stellar (XLM) is trying to pull back, but is facing resistance at the moving averages. If the bulls push the price above the 50-day SMA, it can move up to $0.12039489. The long-term downtrend line is located at this level. We expect the bears to offer a stiff resistance at this point.

On the other hand, if the XLM/USD pair fails to breakout of the moving averages, it can slump to $0.08641170 and below it to $0.080. Both the moving averages are flattening out and the RSI is just below the midpoint, which suggests a consolidation in the short term. As the price is still quoting below both the moving averages, we will wait for it to form a reliable buy setup before proposing a trade in it.

ADA/USD

Cardano (ADA) reversed direction from $0.057898 on May 10 and broke out of the downtrend line on May 11. It has been facing resistance at $0.080 for the past two days. Both the moving averages are flat and the RSI is just above the midpoint. This suggests a range formation in the short term.

If the ADA/USD pair sustains above the 50-day SMA, it can move up to $0.094256. This might act as a stiff resistance but, if scaled, it will complete a reversal pattern that has a target objective of $0.161275. Traders can buy a breakout and close (UTC time frame) above $0.094256. We will propose a stop loss when the trade triggers.

Our assumption will be invalidated if the pair turns down and breaks below $0.057898. In such a case, a drop to $0.040 is probable.

TRX/USD

Tron (TRX) remains stuck in the $0.02094452–$0.02815521 range. It has not participated in the current recovery, which is a negative sign. Both the moving averages are flat and the RSI has been hovering below 54, which suggests that the bears have a slight advantage.

As the TRX/USD pair has been range-bound for the past few months, a breakout of it will signal the start of a new uptrend. Therefore, we maintain our buy recommendation given in an earlier analysis. However, if the pair turns down and breaks below $0.02094452, it can plunge to the critical support of $0.0183.

Continue Reading

Altcoins

Analytics: BTC, ETH, BCH, LTC and XMR

Published

on

Napston

Bitcoin has been the main attraction in the past week, as it has scaled every stiff hurdle with ease. The rally has helped its market dominance hit levels not seen since December 2017. After a long time, the traders have focused on the positives and have disregarded the negative news. This shows that the sentiment is bullish.

A rally being led by the largest cryptocurrency is a bullish sign. Some believe that the upward move is a result of increased activity by institutional players. While we are surprised by the pace of the rally, we believe that this is not sustainable and a repeat of the previous bull market is unlikely. Bitcoin will soon enter a consolidation or a minor correction that can be used as a buying opportunity.

The recovery in cryptocurrencies has enabled projects to source funds easily. Bitfinex has received hard and soft commitments for its $1 billion initial native exchange token offering. Similarly, blockchain equity loan platform Figure, backed by Morgan Creek has sealed a $1 billion “uncommitted” financing facility via blockchain.

Will bitcoin pull the altcoins higher, or will the altcoin rally indicate that the retail crowd is jumping in and a short-term top is close by? Let us see what the charts of the top five performers of the past seven days project.

BTC/USD

Bitcoin (BTC), with its scintillating run, is back in the limelight. One of the world’s top cryptocurrency exchanges, Binance, was hacked and 7,070 in bitcoin was stolen from its hot wallets. However, the hack did not rattle the markets as it continued its uptrend after a brief pause. When markets do not correct on negative news, it is a bullish sign.

Galaxy Digital CEO Michael Novogratz expects the lifetime highs to be scaled within the next 18 months. Financial advisory firm Canaccord Genuity also arrived at a similar conclusion based on their studies: they expect bitcoin to hit $20,000 by 2021. Tim Draper, however, is even more bullish, as he expects Bitcoin to reach $250,000 by 2023.

However, we suggest traders not to get carried away by these lofty targets. Let’s see what the charts project.

BTC/USD

The BTC/USD pair is easily breaking out of the overhead resistances. We were expecting the recovery to pause in the zone of $6,000 to $6,480.54, but the pair easily crossed this zone. It has a minor resistance at $6,850, above which the rally can extend to $7,500 and if that level is also crossed, it can move up to $8,500.

However, the sharp rally has pushed the RSI on the weekly charts into the overbought zone for the first time since early January 2018. This shows that the rally has been persistent and strong.

Any dip will find support at $5,900 and below it at $4,900 levels. The next fall might form a higher base and be the last opportunity to buy before the cryptocurrency enters a sustained long-term uptrend.

ETH/USD

While ether (ETH) volumes on decentralized applications (DApps) hit a new high, the number of new DApps deployed on-chain is at a low, close to 2017 levels, according to crypto analytics firm Diar. Over the next 12 months, the Ethereum Foundation plans to spend $30 million for various projects across the ecosystem. Helped with a donation of $1,000 Ether each by Joseph Lubin, Vitalik Buterin, ConsenSys and the Ethereum Foundation, the Moloch decentralized autonomous organization’s total funds have reached $1 million.

An unidentified official of the US Commodity Futures Trading Commission said that an Ether-based futures product might receive the approval of the regulator if it meets the requirements. Can these bullish developments propel the cryptocurrency higher?

ETH/USD

After defending the breakout level of $167.20 for the past four weeks, the bulls are attempting to resume the uptrend. This is a positive sign. The breakout of the ascending triangle can push the price to $256.08, above which a move to $300 is probable.

The ETH/USD pair might face some resistance at the 50-week SMA, but we expect this level to be scaled.

Our bullish view will be negated if the bears reverse direction from the current levels and sink the pair back into the triangle. Such a move will invalidate the breakout of the bullish pattern, which is a bearish sign.

BCH/USD

More than 50% of transactions in bitcoin cash (BCH) are being generated from a single account. These are small transactions in value but are being done on a regular basis — about three to four transactions per second. Some believe that this is being done to make the network look busier than it is, while others speculate that it is being done for a test. Nevertheless, all eyes will be on the forthcoming upgrade of the network on May 15.

BCH/USD

The BTC/USD pair has been trading in a tight range of $255 to $335.62 for the past four weeks. The attempt by the bears to breakdown from this range failed, as the bulls purchased the dip to the 20-week EMA.

Currently, the bulls are attempting to ascend the overhead resistance zone of $335.62 to $363.3. If this zone is scaled, the pair is likely to move up to $600. Though there is a minor resistance at 50-week SMA, we expect it to be crossed. Traders can buy above $370 and keep a stop loss of $260. Please use only 30% of the usual position size for this trade: if the cryptocurrency struggles to breakout of $400, traders can quickly raise the stop loss to reduce the risk.

Our bullish view will be invalidated if the price reverses direction from the overhead resistance and plummets below the 20-week EMA.

LTC/USD

A new version Litecoin Core 0.17.1 was released which brings in new features, bug fixes, performance improvements and more. Will the bullishness in bitcoin rub off on litecoin? Let’s find out.

LTC/USD

The LTC/USD pair has formed a cup and handle pattern, which will complete on a breakout and close above $91. This will have a minimum target objective of $158.91, but the momentum can carry it to $172.647 levels. The traders can buy on a breakout and close (UTC time frame) above $91 and keep a stop loss of $65. The moving averages have completed a bullish crossover and the RSI is in the positive zone, which suggests that the bulls are in command.

Still, please keep the position size only 50% of normal: let’s keep our risk under control.

Our bullish assumption will be negated if the price fails to breakout and sustain above $91 and drops below $65. In such a case, a fall to $40 and lower is possible.

XMR/USD

Cybercriminals are finding new ways to exploit the vulnerability CVE-2019-3396 in Confluence, a widely used collaboration and planning software, according to a report by security intelligence firm Trend Micro Inc. Monero (XMR) is the fifth best performer of the past seven days. Can it improve its performance over the next few days? Let us find out.

XMR/USD

The XMR/USD pair has been consolidating for the past five weeks, and has a stiff resistance at $81. The 50-week SMA is also located just above this level. Hence, we anticipate this zone to act as a stiff hurdle for the bulls.

But if the bulls breakout of the 50-week SMA, it will signal strength and can gradually move up to $120 and above it to $150. Conversely, if the bears sink the pair below $60, it can retest the lows at $38.5.

Traders can wait for the price to breakout and close (UTC time frame) above $81 to initiate long positions. The initial stop loss can be kept at $60, which can be trailed higher as the cryptocurrency moves northwards.

The market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Continue Reading

Altcoins

HitBTC Exchange Analytics: ATOM, DASH, MIOTA, BTC, BCH

Published

on

Cryptocurrency Wallet

While markets have looked bullish this week following a sharp surge May 3, traders need to watch out for a correction in the next few days. This pullback will shake out the weak hands and will differentiate between different digital currencies. While some will lose only a part of their recent gains, others will plunge towards their lows again.

The stronger ones are likely to lead the next bull market in cryptocurrencies. Therefore, traders should buy strength after the pullback ends. If our assumption is correct, the current fall should offer a great opportunity to buy for the long-term. Our view will be invalidated if cryptocurrencies give up all the gains made over the past few weeks.

A survey by financial consultancy firm DeVere Group shows that 68% of high-net-worth individuals across the globe will have invested in cryptocurrencies by the end of 2022. One of the major reasons for investing in cryptocurrency is their borderless nature, which makes the assets available across the globe.

ATOM/USD

Atom (ATOM), the native crypto asset of the Cosmos blockchain, made an impressive start as it made a place for itself among the top 15 cryptocurrencies by market capitalization within a very short span of time. Its price received a boost as it was listed on Binance, without even trying. However, while the initial response has been bullish, can the momentum continue in the best performing major cryptocurrency of the past week or is it time to take some chips off the table? Let’s take a look.

ATOM

The ATOM/USD pair has a very short trading history; hence, we are using a daily time frame chart on it. The pair witnessed huge volatility on its listing day. From a high of $8.90 on April 22, it plunged to a low of $2.9277 on April 24. That was a drop of 67.10%. However, since then, the recovery has been sharp. The price has reached close to the 38.20% Fibonacci retracement of the recent fall. A rally above this resistance can push the price to $5.9139, which is the 50% retracement level.

The level between $5.9139 to $6.6186 will act as a stiff resistance. Any breakout of the 61.80% Fibonacci retracement can propel the digital currency to $8.90. However, if the price turns down from the current levels, it can drop to the next support of $3.60.

DASH/USD

The recovery in market prices pushed the mining hashrate of Dash (DASH) to an all-time high of 3.2385 petahashes on April 19, bettering its previous record of 3.237 petahashes set in early November 2018. It has since then again improved on the record to 3.8957 petahashes on May 2.

In order to solve the issues faced by Dash merchants, Dash Retail has released a merchant transaction counter for its point-of-sale app and a conversion rates API to provide accurate conversion rates to fiat currencies.

DASH

The DASH/USD pair corrected to the breakout level of the range in the week before this past one. We like that the price has sustained above the 20-week EMA since breaking out of it. The bulls are currently attempting to resume the recovery. It will pick up momentum after it breaks out of the overhead resistance between $138.709 and the 50-week SMA. Above this zone, the pair can rally to $225.

On the other hand, if the digital currency reverses direction and plunges below $103.261, it will re-enter the range. This will weaken it and can result in a fall to the yearly low.

MIOTA/USD

Car manufacturer Jaguar Land Rover will reward drivers by giving them MIOTA tokens for data reporting. These tokens can thereafter be redeemed for various products. The Austin Transportation department in the city of Austin, Texas has collaborated with Iota Foundation to work towards a more interoperable transportation ecosystem.

IOTA

The MIOTA/USD pair has been range bound between $0.244553 and $0.385033 since the end of December last year. The bears attempted a breakdown of this support in the week before but failed. Buyers quickly pushed the price back in the range. However, the pair is facing resistance at the 20-week EMA. If the price can scale above this resistance, it will challenge the top of the range at $0.385033.

A breakout of the range is likely to start a new uptrend that can carry the price to the psychological resistance of $0.50. On the other hand, a breakdown below $0.244553 will sink it to lows. The longer the digital currency remains in the range, the stronger its eventual breakout will be.

BTC/USD

Bitcoin (BTC) prices have risen sharply over the past seven days. Fundstrat analyst Robert Sluymer believes that this is the start of a new uptrend and investors should buy more on any pullback. He expects the price to zoom past $6,000 in the second half of the year.

It is interesting to note that bitcoin’s dominance has increased from about 50% to 55.5% in about a month. This shows that traders are currently favoring bitcoin over other altcoins. More and more people are now aware of Bitcoin and about 11% of the American population has already invested in it, according to a survey by Spencer Bogart of Blockchain Capital.

Grayscale Investments has started a “Drop Gold” campaign where it portrays BTC as an alternative to gold investments. With all these bullish noises, should one buy now or wait?

BTC

The BTC/USD pair has reached the stiff overhead resistance of $5,900. This is a critical level because the pair had repeatedly taken support close to it since February to early November, before breaking below it. Now on the way up, we expect a lot of supply to hit around these levels.

But the price has risen above both moving averages, which is a positive sign. If the bulls can continue the momentum and ascend $5,900, the digital currency can rally to $6,480.54. We do not expect the zone between $6,000 to $6,480.54 to be crossed in a hurry. A minor correction or a consolidation around these levels is likely.

On the downside, support is at $4,914.11. If this level breaks, it will dampen sentiment and can drag the price to the next support at $4,255. Traders who have missed out buying in this recovery can wait for dips to buy, instead of chasing the rally.

BCH/USD

The next hard fork on bitcoin cash (BCH) is slated for May 15. Schnorr signatures, a scaling and privacy code change, will go live on the coin’s mainnet to improve the cryptocurrency’s privacy and scalability.

BCH

Since the surge in early April, the BCH/USD pair has largely been consolidating between $255 and $335.62. The attempt by the bears to plummet below this range in the last week found buyers at the 20-week EMA. Currently, the bulls are attempting to push the price towards the top of the range.

If the pair breaks out of the range and the minor resistance at $363.30, it can rally to the 50-week SMA and above it to $600. The digital currency has a history of vertical rallies; hence, it is likely to surprise to the upside.

Our bullish view will be invalidated if the digital currency plunges below the support of the 20-week EMA. In such a case, a fall to $166.25 is probable.

Market data provided by HitBTC exchange. Charts for analysis provided by TradingView.

Continue Reading

Altcoins

Play CryptoSlots’ New Game for Cash Prizes of up to $1,250

Published

on

CryptoSlots

Another game, another cryptocurrency, crypto casino CryptoSlots bring players even more ways to win.  Open Season is their newest release. It boasts bright hunting graphics and bonus extras that pack a punch for online slot hunters. Players trigger big wins by shooting down Free Spins and scoring Mystery Cash Bonuses of up to $1,250.

CryptoSlots is perfect for online players who want to make their gaming easier with cryptocurrencies. Signing up takes seconds – a nice change from the lengthy details required by many casinos online.

Use bonus code MATCH133CTRAFFIC now to match your 1st deposit by 133%! *

This new game coincides with the addition of Monero as an accepted cryptocurrency. Monero is a gift to players who value the highest level of privacy when using crypto online. Transactions are untraceable, and players enjoy fast deposits & withdrawals. CryptoSlots promises all players security and anonymity whenever they play, however much they win.

This online casino launched in summer 2018, by Slotland Entertainment, and gives players a fully Provably Fair casino. This means that any game result on any game can be externally verified as fair. CryptoSlots wants players to have a secure and sure way to win.

Monero joins Bitcoin, Bitcoin Cash, and Litecoin as a deposit and withdrawal option. Deposits are instant, withdrawals are processed the very next working day. At CryptoSlots transaction fees are minimal so your wins are yours.

There are now 37 unique Provably Fair games – slots, high limit slots, video poker, and the million-dollar winning Jackpot Trigger. These games can be played at no other crypto casino online. Players also collect tickets as they play for the Crypto Lotto, which prizes players with thousands per month.

*Bonus valid for deposits up to $500 and must be wagered 30x. General terms & conditions apply.

Continue Reading

Altcoins

Why Merging Cryptocurrency With Today’s Payment Platforms Should Generate Rising Revenue Streams

Published

on

Bitcoin Severely

A report by McKinsey & Company on global banking, projected that global payment market revenues are poised to approach $3 Trillion by 2023. As cryptocurrency payment platforms become more common… that number should rise… but the purveyors of traditional payment methods may have to get over their initial reluctance to this new disruptive technology… or they could miss the boat! A recent article in the Bitcoin Exchange Guide addressed this subject:

“One of the longtime fears that the traditional financial world seems to have about cryptocurrency is its potential for overtaking payment systems. People who are comfortable with the archaic system do not want to see a broader market… However, as the technology behind cryptocurrency and blockchain finds more use cases, the disruption of the current payment system may not be far behind. Active Companies in the industry include NetCents Technology Inc. (CSE:NC) (OTC:NTTCF), Xunlei Limited (NASDAQ: XNET), PayPal Holdings, Inc. (NASDAQ: PYPL), Pareteum Corporation (NASDAQ: TEUM), Riot Blockchain, Inc. (NASDAQ: RIOT).

The report continued: “Lisa Ellis is an analyst with MoffettNathanson… (recently) stated that she believes that cryptocurrency’s global acceptance could change payment systems. To be clear, she does not believe that the big names like Visa, Mastercard and PayPal will be pushed aside anytime soon, but the… idea of crypto replacing (the traditional standards) is worth exploring. Cryptocurrency has this unique quality of remaining independent of any specific country, and the way that it has jumped in as a saving grace to many countries suffering from hyperinflation is a reprieve.

NetCents Technology Inc. (CSE:NC) (OTCPK:NTTCF) (Frankfurt:26N) BREAKING NEWS: NetCents Technology is pleased to announce that it has begun processing cryptocurrency transactions for its first charity partner, HS Aware.

NetCents is a strong believer about being able to invoke change. Change not only on its business side but more importantly throughout our communities with initiatives that positively impact people’s lives. On March 7th, the Company launched its Charity Impact Initiative and we are proud to announce our first charity partnership with HS Aware.

NetCents is providing all registered charities and non-profits free cryptocurrency processing. Any charity that signs up through this initiative is able to accept donations and sell their merchandise and tickets with zero processing fees. Interested charities can visit https://net-cents.com/partners#partners-form to learn more and sign up.

“HS Aware is excited to remain an innovator in the non-profit space by now accepting cryptocurrency donations to fund our future initiatives and events,” stated Maria Goguen, President of HS Aware. “We’ve had a lot of interest to begin accepting donations in crypto to further support the HS community and now through this partnership, we are able to. We are thankful for any and all support members of the community want to give.”

Continue Reading

Altcoins

New French Law Allowing Life Insurers to Offer Investments in Cryptocurrencies

Published

on

France

In France a law was recently passed known as the Pacte law (Plan d’action pour la croissance et la transformation des entreprises, Action plan for the growth and transformation of enterprises). It will allow life insurance providers to invest in crypto-currencies and tokens without any limitation on the amount that can be allocated.

Les Echos report that a dual provision of the announced act will allow insurers to invest, this will be done through specialized professional funds, in crypto-assets. FPCIs (Fonds Professionnel de Capital Investissement, Professional Capital Investment Funds) which will also be impacted by the measure.

The Pacte law was passed by the French government this week in the National Assembly allowing the insurers to offer life insurance policies exposed to crypto-monies. They note this is the first type of such a product and will be popular in the country.

Continue Reading

Bitcoin

Huobi DM To Launch Bitcoin Cash Contracts

Published

on

Huobi Group

Users will soon have even more flexibility and choices on Huobi Derivative Market (Huobi DM). Bitcoin Cash (BCH) service will go live tomorrow on the crypto asset contract platform and two more coins are scheduled to be launched before the end of May.

Inclusion on Huobi DM means traders will be able to take both long and short positions on BCH, allowing for arbitrage, speculation, and hedging. Since 2017, Bitcoin Cash’s value has fluctuated between $75.08 and $4,355.62.

In addition to BCH, Huobi DM offers weekly, bi-weekly, and quarterly cryptocurrency contracts for Bitcoin (BTC), Ethereum (ETH), EOS (EOS), Litecoin (LTC), and, as of last month, Ripple (XRP). Since its launch in late 2018, Huobi DM has grown rapidly, recently exceeding USD$92 billion in cumulative trading volume.

Features of Huobi DM:

  • Competitive fee structure for BCH: 0.02% to open or close for makers and 0.03% to open or close for takers.
  • Superior risk management: including Price Limit, Order Limit, and Position Limit.
  • Superior risk control: with the sophisticated price limit mechanism, no claw back has occurred since its launch.
  • Real-time risk supervision: Huobi constantly monitor contract prices, index prices, abnormal transactions, and positions.
  • Newly raised open position limits for all crypto contracts to up to twice their previous level and order limits to more than double their previous level.
  • User protections: To cover the societal losses attributed to unfilled liquidated orders/settle incidents in contract trading, Huobi also has a dedicated Risk Management Insurance Fund for each trading pair.
Continue Reading

Bitcoin

Mybitcards.com Announces a New Distribution Partner CardCash.com to Sell its Bitcoin Gift Cards in the USA

Published

on

Bitcoin core

Mybitcards.com, the company that makes purchasing Bitcoin as simple as buying a gift card, has today announced a new distribution partner for their Bitcoin Gift Cards: www.CardCash.com.

Mybitcards.com has been successful in helping newcomers and seasoned crypto-investors alike purchase Bitcoin by simply purchasing a gift card and then transferring the purchased Bitcoin into a wallet.

Its leadership in the Bitcoin gift card space is not accidental. Various team members have been creating payments solutions for the crypto industry since 2012, while other team members have been in the gift card and payment processing industry for over 28 years.

This partnership has opened an easy Bitcoin purchasing option to millions of new users without the need to deal with exchanges.

“Partnering with CardCash.com allows more people to buy Bitcoin just like they buy any other gift card — quickly and hassle-free,” says Ed Gieske, CEO of Mybitcards.com™ “It’s a much simpler and quicker way to purchase Bitcoin.”

The addition of Bitcoin Gift Cards™ is a lucrative move for gift card retailers, and even more so for their customers. People already go to CardCash.com looking to buy a gift card at a discount. Since Bitcoin and other cryptocurrencies have already demonstrated that their price can grow, purchasing a Bitcoin gift card provides an interesting opportunity for investment.

Continue Reading

Altcoins

Crypto Markets Price Analysis, March 26

Published

on

Crypto Wallet

During a meeting with the president of Argentina, American venture capital investor Tim Draper spoke about the potential of blockchain and cryptocurrencies. He also urged the president to legalize Bitcoin to help the nation emerge out of the economic crisis. Later, during an interview, Draper said that he expects Bitcoin to reach $250,000 by 2022 and 2023. If crypto becomes easy to use, he expects people to ditch fiat and opt for Bitcoin.

But for now, companies are finding it difficult to use cryptos as a mode of payment. The latest to ditch cryptos is Amazon-owned streaming service Twitch. The company has not mentioned any specific reason for the decision.

Popular stablecoin Tether recently changed its previous claim that every token in circulation is “100 percent Backed” with fiat currency. It now states that each token is backed by “traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities.” This has raised a red flag as Tether has not offered itself for a third-party audit.

BTC/USD

Bitcoin (BTC) has been trading close to $4,000 for the past few days. This small range trading is unlikely to continue for long. We anticipate a large range move within the next few days.

BTC/USD

If the range expands to the upside, the BTC/USD pair can rally to $4,255. This is a major resistance, above which the pair will complete a double bottom pattern, that has a minimum target objective of $5,273.91.

However, if the range expands to the downside, the digital currency can fall to the 50-day SMA. If this support also gives way, the next support to watch on the downside is $3,355.

The 20-day EMA is flattening out and the RSI is just above the center, which points to a consolidation in the near term. Traders can retain the stop loss on the long positions at $3,550. As the bulls failed to scale above the psychological barrier of $4,000, we will trail the stops higher within the next few days.

ETH/USD

Ethereum (ETH) has broken down of the 20-day EMA and the uptrend line. Its next support is at the 50-day SMA below which a fall to $125.88 is probable. If this support also breaks, the digital currency will lose momentum. Therefore, traders can retain the stop loss on the remaining long positions at $125.

ETH/USD

Contrary to our expectation, if the price finds support at the 50-day SMA and reverses direction, it will again try to break out of $144.78. If successful, the ETH/USD pair can rise to $167.32.

However, the 20-day EMA has flattened out and the RSI has also dipped below 50, which points to a consolidation.

XRP/USD

Ripple (XRP) has broken down of the uptrend line and has moved away from the moving averages. This shows that the bears have the upper hand. A break below $0.30 can drag the price to $0.29 and below it to $0.27795. This is a critical support that has held since December of last year. A breakdown of this can result in a retest of the yearly low.

XRP/USD

Contrary to our expectation, if the XRP/USD pair rebounds from the current levels or from one of the supports on the downside, it will again try to rise above the overhead resistance of $0.33108. We anticipate a strong move if the price sustains above the resistance line of the descending channel. For now, traders can keep the stop loss on the long positions below $0.27795.

LTC/USD

Litecoin (LTC) continues to face selling close to the resistance line. On the downside, the bulls are providing support at the 20-day EMA. The RSI is still showing a negative divergence, which is a red signal. A breakdown of the 20-day EMA and the uptrend line of the developing wedge will increase the probability of a fall to the 50-day SMA. Therefore, traders can trail the stop loss on the entire remaining long positions to $55.

LTC/USD

However, if the LTC/USD pair rebounds from the 20-day EMA, it will again try to breakout of the resistance line and rally to its next target objective of $69.2790. Both the moving averages are sloping up, which shows that the bulls still have the upper hand. We expect a decisive move within the next few days.

EOS/USD

The bulls are struggling to hold the 20-day EMA. A failure to bounce off this level increases the probability of a breakdown and a fall to the 50-day SMA, which might hold. With the 20-day EMA flattening out and the RSI close to 50, EOS is likely to become range bound for a few days.

EOS/USD

If the bears sink the EOS/USD pair below the 50-day SMA, it can fall to $3.1534. This is the final support, below which the trend will turn negative. Therefore, traders can protect their remaining long positions with stops at $3.10.

On the other hand, if the pair bounces off the current levels or the 50-day SMA it will again try to break out of $3.8723. If this level is scaled, the next target to watch on the upside is $4.4930.

BCH/USD

Bitcoin Cash (BCH) has risen to the overhead resistance of $163.89 where it is facing some resistance. However, both the moving averages are sloping up and the RSI is close to the overbought zone, which shows that the bulls are in the driver’s seat.

BCH/USD

A breakout of $163.89 is likely to attract buyers, pushing the price to the next overhead resistance of $175 and above it to $220. The BCH/USD pair has a history of vertical rallies, hence, traders can hold the long positions with the stops at $140.

Our bullish view will be invalidated if the digital currency turns down from the current level and plunges below the 20-day EMA. In such a case, the pair might become range bound for a few more days.

BNB/USD

Binance Coin (BNB) soared above the overhead resistance of $16.6442826 and reached very close to our target objective of $18 on March 24. We anticipate a strong resistance at $18. Therefore, we suggest traders book profits above $17, keeping only about 25 percent of the original long position open to ride any move higher. This can be held with a stop loss of $15.

BNB/USD

If the bulls scale above $18, a rally to the lifetime highs of $26.4732350 is probable. This will make the BNB/USD pair one of the first cryptocurrencies to make a new high, which is a positive sign.

However, if the bears defend the $18 level, the price might correct to the 20-day EMA. If this support breaks, a fall to the 50-day SMA is probable. The trend will turn in favor of the bears if the pair sustains below the 50-day SMA.

XLM/USD

After trying to hold the 20-day EMA for the past four days, Stellar (XLM) has broken down of it. This is a bearish sign because this shows a lack of buying at the strong support of the 20-day EMA.

XLM/USD

If the price sustains below the 20-day EMA, the XLM/USD pair can plunge to the 50-day SMA. The uptrend line is just below this support. If the pair breaks below these supports, it can retest the lows.

Conversely, if the digital currency bounces off the current levels, it can reach the resistance line. On a break above $0.13250273, the cryptocurrency can reach $0.14861760. Traders can retain the stop loss on the long positions at $0.08.

ADA/USD

Cardano (ADA) rallied sharply on March 22 and 23, and reached close to our first target objective of $0.066121. With the rise, both the moving averages have turned up and the RSI is also close to the overbought zone. This indicates that the bulls have the upper hand.

ADA/USD

However, the ADA/USD pair is currently facing profit booking. In an uptrend, the pullbacks last anywhere between 1 to 3 days. If the pair bounces off the 20-day EMA, it will indicate strength. The next target to watch is $0.080.

On the other hand, if the digital currency turns down from the current levels and breaks below both the 20-day EMA and $0.051468, it will turn negative. Therefore, we suggest traders keep the stops on the long positions at $0.049.

TRX/USD

Tron (TRX) broke out of the 20-day EMA on March 23 but hit a wall just above the 50-day SMA. Currently, the price is back below the 20-day EMA, which is a bearish sign.

TRX/USD

If the TRX/USD pair breaks down of $0.0220, it can correct to $0.02094452. Both the moving averages are flattening out and the RSI has dipped marginally below 50. This points to a likely consolidation in the short term.

However, if the pair rebounds from the current levels or from $0.0220, it will attempt to break out of $0.02815521, which is a critical resistance. The digital currency will pick up momentum if it sustains above this level. Until then, it will continue to face resistance on every minor rally.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Continue Reading

Trending